Victory Capital Management Inc. Sells 10,380 Shares of DTE Energy Company (NYSE:DTE)

Victory Capital Management Inc. trimmed its stake in shares of DTE Energy Company (NYSE:DTE - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,039 shares of the utilities provider's stock after selling 10,380 shares during the quarter. Victory Capital Management Inc. owned approximately 0.18% of DTE Energy worth $52,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. Cloud Capital Management LLC purchased a new position in DTE Energy during the first quarter valued at $25,000. Olde Wealth Management LLC purchased a new stake in DTE Energy in the first quarter worth about $27,000. Mattson Financial Services LLC purchased a new stake in DTE Energy in the fourth quarter worth about $38,000. Financial Gravity Asset Management Inc. purchased a new stake in DTE Energy in the first quarter worth about $41,000. Finally, Bank of New Hampshire purchased a new stake in DTE Energy in the first quarter worth about $55,000. 76.06% of the stock is currently owned by institutional investors.

DTE Energy Stock Up 1.8%

NYSE:DTE traded up $2.49 on Friday, reaching $137.22. The stock had a trading volume of 1,690,920 shares, compared to its average volume of 1,303,595. The company has a current ratio of 0.87, a quick ratio of 0.59 and a debt-to-equity ratio of 1.82. The company has a 50-day moving average of $133.95 and a 200 day moving average of $131.06. The stock has a market cap of $28.48 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 2.34 and a beta of 0.44. DTE Energy Company has a 12-month low of $115.59 and a 12-month high of $140.39.

DTE Energy (NYSE:DTE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.12. DTE Energy had a net margin of 11.25% and a return on equity of 13.00%. The business had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.33 billion. During the same period last year, the firm posted $1.67 earnings per share. On average, research analysts predict that DTE Energy Company will post 7.18 earnings per share for the current year.

DTE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $1.09 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.36 dividend on an annualized basis and a yield of 3.18%. DTE Energy's dividend payout ratio (DPR) is presently 58.92%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DTE. Evercore ISI upped their price objective on DTE Energy from $136.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wells Fargo & Company upped their price objective on DTE Energy from $145.00 to $154.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wall Street Zen lowered DTE Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Guggenheim upped their price objective on DTE Energy from $139.00 to $147.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. upped their price objective on DTE Energy from $145.00 to $147.00 and gave the stock a "neutral" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $141.53.

About DTE Energy

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.